FRIDAY, 11:26am: The Kings have signed Reed to a deal for the rest of the season, the team announced. The team’s statement doesn’t make mention of it being a multiyear arrangement, as had previously been reported, so perhaps it only covers the balance of 2013/14. In any case, the team has also assigned Reed to the D-League, as Pilato reported they would.

THURSDAY, 6:24pm: The move was made in part to help the Reno Bighorns (Sacramento’s NBDL affiliate) as they make a late season push for the playoffs, reports Gino Pilato of DLeagueDigest. As Pilato explains, there is a rule that states that if an NBA team assigns any player called up within 21 days of the end of the NBA regular season or at any subsequent point during the NBDL regular season or playoffs, the player will return to the D-League team that he was previously playing for.

The Kings barely made the deadline to sign Reed with the option of sending him to their own affiliate, and that’s exactly what the team plans on doing, a source tells Pilato.

9:08am: The Kings are signing D-Leaguer Willie Reed for the rest of the season, agent Joel Bell tells Shams Charania of RealGM (Twitter link). The team has yet to make an official announcement. Charania’s full story indicates that the deal includes a team option for 2014/15, though I suspect that’s simply a non-guaranteed season, since team options are rare outside of rookie scale contracts.

Reed also inked a multiyear deal with Memphis in mid-April last year, but he never made it into a game, and the Grizzlies cut him and his non-guaranteed contract in training camp this past autumn. Reed appears to represent Plan B for the Kings, who were reportedly set to signChris JohnsononWednesday before the deal fell through.

The 6’9″ Reed has been playing with the D-League affiliate of the Nets this season, averaging 14.8 points and 10.1 rebounds in 31.8 minutes per contest. Rebounding is his most significant area of improvement over last year, when he averaged 7.8 per contest in similar minutes for the same D-League club.

The Kings gave Reed his first NBA contract in 2012, but he failed to make the team out of camp. Still, Sacramento is high on his activity and athleticism, Charania notes, though most of the team’s management has changed since Reed’s first stint with the Kings.